Hyundai Card floats 240 bln won in green bonds
SEOUL, Aug. 30 (Yonhap) -- Hyundai Card Co., a leading credit card issuer in South Korea, said Friday it has locally issued green bonds worth 240 billion won (US$198 million).
The won-denominated green bonds, which were sold to domestic institutional investors, will mature in two to seven years, the card company said.
Green bonds are meant to raise money to support environmental projects and other eco-friendly infrastructure schemes.
Hyundai Card said the proceeds will be used to provide financing for electric, hydrogen, hybrid and other eco-friendly vehicles of Hyundai Motor Co. and Kia Motors Corp., South Korea's top two automakers.
Hyundai Card is the credit card arm of auto giant Hyundai Motor Group, whose flagships are Hyundai Motor and Kia Motors.
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